Jessica Lipson Authors Corporate Counsel Article on the Risks (and Rewards) of AI

Partner Jessica Lipson authored a June 14 article in Corporate Counsel entitled “The Risks (and Rewards) of AI for In-House Counsel and Corporate Boards.” In it, she called for in-house counsel and corporate boards to understand and evaluate the risks associated with using new technologies and implement controls to mitigate them.   

While Jessica acknowledged that the upside of generative AI is “the promise of enhancing productivity and increasing efficiencies across businesses,” she enumerated the many ways in which AI technology poses risks, including incorrect or erratic results generated by chatbots; risks of biased output; copyright infringement; breach of contract; privacy regulatory risks; data security concerns; and potential loss of confidentiality.

Jessica offered concrete steps that boards can take to minimize the risks of using AI tools. To avoid bias, for example, Jessica suggested that a board “strongly consider implementing human supervision of the work product by a team of people trained in diversity, equity and inclusion methodologies.” To address privacy risks, Jessica suggested assigning “a responsible officer to guide and supervise the use of these technologies, so that controls can be implemented to protect individual privacy and comply with law, particularly as the privacy and data security legislative landscape continues to become more and more complex.”

In conclusion, Jessica wrote, “It’s important to discuss these risks with all advisors, including your lawyers, to make sure that use of these technologies is done in a safe, ethical, non-discriminatory, transparent, legal and responsible manner.”

The full article is available to Law.com subscribers here.